Greif quarterly profit rises

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Greif Inc.
GEF, -0.40%
late Wednesday reported fiscal first-quarter net earnings of $34 million, or $1.15 per Class A share, up slightly from $33.4 million, or $1.13 per Class A share, in the year-ago period. Excluding special items, Greif posted a per-share profit of $1.20 compared with 60 cents last year. Revenue at the Delaware, Ohio-based industrial packaging company rose 29% to $750.8 million from $582.3 million. Greif raised its fiscal 2007 earnings forecast, excluding special items, to a range of $6.00 to $6.10 per Class A share, prior to the stock split.

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